Thoughts - Tax Preparation as PT Work?

[rothlev]

you are only getting $10 per hour, subbing pays more... DW gets like $100 per day.... and does not work 10 hours...

Well when I started my pay was $9 an hour, but that is only for the first season. Subbing in my geographic area payed about $65 a day, it may be a tad higher now.
I did, but only occasionally, work a 10 hour day at Block. My pay now with Block is much much higher than $10 an hour. I can collect unemployment if I choose to, on the off season.

 

[rothlev]

Thoughts - Tax Preparation as PT Work?

Hi Youbet. Thankfully we are well prepared financially for retirement. Jan.-April will be a quiet time for me from a biking/hiking/kayaking/camping perspective - so earning some "fun money" and keeping my brain stimulated seems like Win/Win for me. It's worth checking out - if I don't like it - then I don't do it. The benefits of FI ��

#1 I like earning some money, but it is not a requirement for my lifestyle.

 

[rothlev]

Hi Rothlev, do you think I have a good chance to be hired by the location/office where I take the training? The time of year, nature of work do appeal to me.

I would call the district manager directly for that office. You can probably get his/her name and number from the office. And try to feel him/ her out. The DM is the one who does hiring. Due to the age of the employee base, and the seasonal work, and the low starting pay, there is usually considerable turnover and always new hires.
if you do it, you have to understand that you won't make much money the first year or two. If you stick it out the money is decent.

 

[athena53]

I made it to FIRE. Based on the comments made on this thread, I'm glad I don't need to engage in PT work such as tax prep or sub teaching.

OTOH, for folks whose retirement began on terms less desirable than they planned for, I tip my hat to those doing whatever it takes.........

Like some of the others who posted in response to this, I'll work if it's fun and on my terms. Three months post-retirement, I'm beginning to see that I need some structure. It will probably take the form of a community college course this Fall (Geology, with lab), so maybe tax preparation will work for Q12015. Anything that requires me to go back to setting an alarm for 6:30 AM 5 days a week, or limits my vacation days, is off the table!

 

[Free To Canoe]

Thanks for feedback.

Free To Canoe, Would you recommend that I contact the local office to see what my chances are of getting employment if I pass the course? I will be living on island and there is only one H&R Block (also a Hewitt office). Are there any other costs involved? I prefer not to invest the $ and time if there isn't much chance of getting employment on the island (doesn't make sense to commute off the island for PT work).

I have lots of years in customer service, sales and am good with software and numbers, so this could be a good fit. Plus it would end at just the right time of year and provide some "mad money".

I would definitely want to have employment contingent upon successful completion of the training. Since you will be "volunteering" many of your hours for training I would not want to have to also pay for the training. A customer service background is good. Former bank tellers are very good in that they know local customers (could bring in new business), are familiar with the privacy issues and some of the legal/money issues.

Now is a good time of year to approach the owners about training/ position. A friend that owned a tax prep business recommended to me that you should want to service about 100 clients or more in the 1st year.

Our bonus formula is 7.5% of the gross you bring in after first subtracting your wages and coupons.

 

[athena53]

Just checked and the H&R Block course is $199 here. It's 6 hours a week during the same time period I was planning to take the geology class and lab (late August-early December). I'd really need to choose one or it would feel like going back to work.

I think the rocks are going to win. Maybe next year, HRB., after I've gotten through Elementary Ancient Greek and Art History.

 

[ziggy29]

The only thing I see about that which would give me pause is that it produces an unpredictably intense w*rk season, even if short. Sure, you could limit the number of clients so that you're never hammered too heard even in March and early April, but then there would be little or no w*rk the rest of the year. I guess I'd prefer a more constant and steady PT j*b than one like that, but maybe that's just me.

 

[Jimbo125]

Wow, I am looking to retire to get away from the stress and headaches of tax season. 35 years has been enough!

 

[Onward]

For anyone considering working for H&R Block, you should know that (based on my experience three years ago) you have to pass the course with 80% before you'll be hired, and the course isn't easy.

Ours was an 11-or-so week course that started with about 40 students. By the end we were down to about ten students, only five of whom passed the course. Four were asked to work for Block.

I won't tell you who scored the highest....

 

[Senator]

I had originally planned to work through the end of this year, but quite frankly the BS bucket was overflowing

I think as the personal FI bucket get more full, so does the BS bucket at work...

There are volunteer opportunities too, if you do not need to get paid. I am not even sure there is a huge training requirement, and I think it's mainly 1040A forms.

 

[rodi]

athena's comments just prompted me to sign up for Italian 101 at the local community college. The CC is just down the road with my kids' school (which is a commute/magnet school) so the class will dovetail with driving them/dropping them off. And we're doing a big travel summer next year that includes 3 weeks in Italy - so improving my Italian should be useful.

Thanks, Athena, for mentioning the classes you're enrolling in.... that got me off my heiney to enroll.

 

[REWahoo]

Volunteering is much more rewarding with VITA program.

Not necessarily. I did tax returns for a season with the local VITA program. It was exactly like work, but without the paycheck.

Never again.

Got that right...

 

[Texas Proud]

Well when I started my pay was $9 an hour, but that is only for the first season. Subbing in my geographic area payed about $65 a day, it may be a tad higher now.
I did, but only occasionally, work a 10 hour day at Block. My pay now with Block is much much higher than $10 an hour. I can collect unemployment if I choose to, on the off season.

So I assume that you are doing tax work... is this correct


If so, then what can one expect to be paid in future years I know that subbing there is no higher pay... it is what it is.... but if you can get more doing taxes in future years than maybe it can be an option..


What about work hours Can you choose to work one day, not the next, then 3 days in a row... then skip a week? I do know you can do this subbing without any problem as you choose the days you want to work...

 

[youbet]

#1 I like earning some money, but it is not a requirement for my lifestyle.

I understand where you are coming from. Having some activities that help us financially is pleasing even though we seem to be doing OK and could even increase our spending according to FireCalc.

But I like earning money completely on my own terms. I choose what I want to do around the house such as small remodeling projects, maintenance, portfolio management, taxes, etc., that save us money. I don't like to work for other people anymore, especially if it involves customers, clients, and others that need to be pleased.

Paint the LR and DR myself saving us $500, yes. Maintain ongoing connections with the local school district and substitute teach for 6 days to net $500 in after tax compensation, no.

Each to their own.

 

[youbet]

What about work hours Can you choose to work one day, not the next, then 3 days in a row... then skip a week? I do know you can do this subbing without any problem as you choose the days you want to work...

Isn't a comparison between seasonal tax prep work and substitute teaching an apples to oranges comparison? Tax prep, for folks with an aptitude for it, requires a class that takes a few months to complete and which you do well in. You can decide tax prep is what you want to do and be prepared in a few months following a path outlined by the employer. Sub teaching in our area requires full teacher certification, frequently experience (retired teachers seem to be preferred) and glowing recommendations. There seems to be a glut of teachers here and substitute teaching, day care jobs, tutoring, etc., is most commonly done by certified, experienced teachers with solid resumes and good references. Not too easy to qualify for unless you're already in the field.

 

[rothlev]

So I assume that you are doing tax work... is this correct

yes, I passed my enrolled agent exam this year. Block paid for that, and it increased my pay considerably.

If so, then what can one expect to be paid in future years I know that subbing there is no higher pay... it is what it is.... but if you can get more doing taxes in future years than maybe it can be an option..

Right now my base pay for next tax season is around $22 an hour. It is draw against commision so at the end of tax season they pay you a bonus of what they still owe you on your commisons. I think earning $15. an hour is realistic after a few years. You do have to study and take certification classes which increases your commisions.

What about work hours Can you choose to work one day, not the next, then 3 days in a row... then skip a week? I do know you can do this subbing without any problem as you choose the days you want to work...

You fill in a calendar with your availability. For the most part they honor what is called " your commitment" As things come up you edit your availablity. For last minute changes we would work it out amongst ourselfs.

 

[Dog]

Thanks everyone for the feedback, comments and suggestions. Working Jan - April is ideal for me. Weather here in PNW is dreary and wet and I usually just snowshoe and XC ski. DH will still be working til 6/16, so we won't have any real travel plans interrupted. No real heartburn if it doesn't work out.
My only concern at this time is the time commitment for the course 3x week from 6-9pm starting 8/11. I don't want to commit that time if I don't have a good chance of being hired. My last day at megacorp is 8/1, so at least my mind will still be sharp for the course.




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[rothlev]

Isn't a comparison between seasonal tax prep work and substitute teaching an apples to oranges comparison? Tax prep, for folks with an aptitude for it, requires a class that takes a few months to complete and which you do well in. You can decide tax prep is what you want to do and be prepared in a few months following a path outlined by the employer. Sub teaching in our area requires full teacher certification, frequently experience (retired teachers seem to be preferred) and glowing recommendations. There seems to be a glut of teachers here and substitute teaching, day care jobs, tutoring, etc., is most commonly done by certified, experienced teachers with solid resumes and good references. Not too easy to qualify for unless you're already in the field.

Exactly right. They both seem to attract retirees looking for meaningful work. For me the subbing required too many hoops for too little pay. Thou, taxes requires plenty of hoops too.

 

[rothlev]

Thanks everyone for the feedback, comments and suggestions. Working Jan - April is ideal for me. Weather here in PNW is dreary and wet and I usually just snowshoe and XC ski. DH will still be working til 6/16, so we won't have any real travel plans interrupted. No real heartburn if it doesn't work out.
My only concern at this time is the time commitment for the course 3x week from 6-9pm starting 8/11. I don't want to commit that time if I don't have a good chance of being hired. My last day at megacorp is 8/1, so at least my mind will still be sharp for the course.




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If you consider it like any other class, stimulating your brain and learning new things you'll be happy with it. I do not think you'll have trouble being hired given your background . I had 0 background in math, customer service , technology, finance . ( went from teaching to taxes) and did fine.

 

[youbet]

For me the subbing required too many hoops for too little pay.

OTOH, if you were a retired teacher already having certification, experience, references, there would have been fewer hoops than getting a job with H and R Block doing taxes.

It depends. It's apples to oranges.

For me, working for someone else, especially at relatively low rates of pay, doesn't compare favorably with not working.

 

[rothlev]

OTOH, if you were a retired teacher already having certification, experience, references, there would have been fewer hoops than getting a job with H and R Block doing taxes.

It depends. It's apples to oranges.

For me, working for someone else, especially at relatively low rates of pay, doesn't compare favorably with not working.

I am ( was) certified, experienced, references. Moved to Georgia and would have to meet all their certification requirements. take more college courses, pay for a new certificate, take their competency test, pay for finger printing. The list is endless. and no guarentee of work either. There may be a teacher glut here right now. DK

 

[athena53]

Paint the LR and DR myself saving us $500, yes. Maintain ongoing connections with the local school district and substitute teach for 6 days to net $500 in after tax compensation, no.

I hadn't thought of it in those terms, but one major item on my To Do list for the winder is scraping the nasty "popcorn" texture off the ceilings in the 2 rooms where I haven't done it. (The master bath and the family room have cathedral ceilings so I'm not touching those.) I got a quote on that work once. It's not brain surgery, but it's slow and messy and very expensive. Since we're planning to sell the house in the spring that may be a better use of my time than doing taxes.

 

[frayne]

Worked for Block for five years after I first retired. Good training and experience for the first couple of years and then I got fed up with some of the Dilbert like management silliness. Never liked pushing the Peace of Mind guarantees and always thought their Emerald Advance loans bordered on predatory lending. For the last two years I've been a volunteer VITA Site coordinator which is much more fun.

 

[Mulligan]

OTOH, if you were a retired teacher already having certification, experience, references, there would have been fewer hoops than getting a job with H and R Block doing taxes.

It depends. It's apples to oranges.

For me, working for someone else, especially at relatively low rates of pay, doesn't compare favorably with not working.

That is where I am at. And I admit I wouldn't be averse to doing some part time work, but I just get killed in taxes so it isn't worth my time... For me, If I made 10k all I would receive from it would be less than $3900 not including transportation costs. 28% tax for almost all the income... 6% state... 6.5 % approx for SS that I get no benefit from... 1.5% approx. for Medicare I'm already invested in.. Loss of 2k tax credit for exceeding income limit for the credit.. It just isn't worth my time....unless somebody wants to pay me cash!


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[Texas Proud]

Isn't a comparison between seasonal tax prep work and substitute teaching an apples to oranges comparison? Tax prep, for folks with an aptitude for it, requires a class that takes a few months to complete and which you do well in. You can decide tax prep is what you want to do and be prepared in a few months following a path outlined by the employer. Sub teaching in our area requires full teacher certification, frequently experience (retired teachers seem to be preferred) and glowing recommendations. There seems to be a glut of teachers here and substitute teaching, day care jobs, tutoring, etc., is most commonly done by certified, experienced teachers with solid resumes and good references. Not too easy to qualify for unless you're already in the field.

I did say in my first post that it makes a difference in where you live... our local district is similar to yours... if you do not have a teaching certificate you are not going to get a job.... but I know someone who does not even have a college degree that subs for Houston... and one of my sisters who had a degree but was not a teacher subbed in Austin to get extra years on her retirement...

So yes, it does make a difference in your ability to get work...


But, it also sounds like you have to get a good score to do taxes.... I have done taxes on and off for many years, so I know what is needed... but someone coming from a completely different career path might not 'get it'... there is no guarantee you will get a job doing taxes even after you pay money and take the class...